Patrick Frater Asia Bureau ChiefChinese authorities have begun an anti-monopoly investigation into Alibaba, the country’s second largest private sector company.
Alibaba has interests that range from e-commerce to cloud computing and movies.State media announced on Thursday morning local time that the probe is being conducted by the State Administration for Market Regulation.Only weeks earlier the same regulator warned that it was concerned by the country’s tech giants.
In the past week it followed that up by announcing fines for Alibaba and Tencent’s e-book and TV production offshoot China Literature for their conduct of corporate acquisitions.Alibaba’s stock trades in ADR form in New York.
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